1247 W 8Th St Los Angeles, CA 90017
12-unit apartment community with value-add potential in Los Angeles.
Lot size:
0.13 AcresProperty Features for 1247 W 8Th St
General Information
- Lot size
- 0.13 Acres
Building Details
- Year built
- 1910
Source:
Elliman
Listing Agency: Marcus & Millichap
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
12-Unit Apartment Community For Sale
This 12-unit apartment community is located on West 8th Street, west of the 110 Freeway and south of Wilshire Boulevard. Situated on a 5,508-square-foot parcel, the property consists of four studios and eight one-bedroom units. The property is being offered at an attractive basis of 7.98 GRM and $120,833 per unit, with 24% remaining rental upside through unit renovations. The property is in close proximity to multiple venues for the 2028 Summer Olympics, including the LA Memorial Coliseum, Crypto.com Arena, and BMO Stadium, which bode well for the long-term prospects of the neighborhood. This property offers investors a compelling opportunity to acquire an asset with a strong value-add component and to capitalize on the continued westward expansion and revitalization of the Downtown submarket.
Location Intelligence
Current Use by Public Records
Downtown Taxi Services
Taxi Service
Location Insight
- Map
- Local Demand
- City
- Los Angeles
- County
- Los Angeles
- State
- California
- Longitude
- -118.2690322
- Latitude
- 34.0503878
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FAQs
What type of property is this?
Apartment building - 12-unit apartment community with value-add potential in Los Angeles.
Where is this apartment building located?
The property is located at 1247 W 8Th St Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: - Significant rental upside (24%) through unit renovations.; - Attractive pricing at a 7.98 GRM and $120,833 per unit.; - Located near multiple venues for the 2028 Summer Olympics.